Saturday, 27 December 2014
Last updated 3 days ago
Jan 23 2009 | 1:02am ET
An India-focused fund of funds set up lat year by an ex-Bear Stearns product manager is bleeding red. The Veda Multi-Strategy India Fund, the brainchild of Ridaa Murad, who built India-focused synthetic swaps, corporate finance and equities products for Bear Stearns, lost 26.52% between inception in September and December, according to data obtained by FINalternatives.
Murad launched the fund of funds in September with Bradford Matthews, who owns a broker/dealer in India. The fund’s initial stable of seven managers employ direct lending, debt lending, convertible arbitrage and distressed debt, according to Murad. The fund of funds also has exposure to futures and options arbitrage strategies, private equity and real estate, as well as long/short and long-biased managers.
“Given the market in India, we think the opportunities are not just in one part of the market cycle and the trick to investing in India is buying the sell-off,” Murad told FINalternatives prior to the fund’s launch.
Some more established India-focused hedge funds were also seriously hurt last year. Funds managed by Halbis Capital Management, Boyer Allan Investment Management and Permal lost between 28% to 71% last year, according to their performance data.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.